Clear Harbor Asset Management LLC Has $1.16 Million Stake in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Clear Harbor Asset Management LLC cut its position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 5.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 15,055 shares of the technology company’s stock after selling 786 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in Cogent Communications were worth $1,160,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in CCOI. Itau Unibanco Holding S.A. bought a new position in Cogent Communications in the third quarter valued at approximately $30,000. Blue Trust Inc. boosted its holdings in shares of Cogent Communications by 204.5% in the 3rd quarter. Blue Trust Inc. now owns 405 shares of the technology company’s stock valued at $31,000 after purchasing an additional 272 shares in the last quarter. Hexagon Capital Partners LLC increased its stake in shares of Cogent Communications by 72.9% in the 3rd quarter. Hexagon Capital Partners LLC now owns 536 shares of the technology company’s stock valued at $41,000 after purchasing an additional 226 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Cogent Communications by 127.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 787 shares of the technology company’s stock worth $44,000 after buying an additional 441 shares in the last quarter. Finally, Quest Partners LLC bought a new stake in shares of Cogent Communications during the 3rd quarter worth $46,000. Institutional investors own 92.45% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on CCOI. The Goldman Sachs Group lifted their target price on Cogent Communications from $62.00 to $71.00 and gave the company a “neutral” rating in a research report on Friday, October 4th. UBS Group assumed coverage on shares of Cogent Communications in a report on Thursday, November 14th. They set a “buy” rating and a $102.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $80.25.

Insider Transactions at Cogent Communications

In other news, Director Sheryl Lynn Kennedy sold 1,350 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $80.58, for a total value of $108,783.00. Following the transaction, the director now directly owns 10,318 shares of the company’s stock, valued at $831,424.44. The trade was a 11.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Thaddeus Gerard Weed sold 4,800 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $81.58, for a total value of $391,584.00. Following the sale, the chief financial officer now directly owns 88,500 shares of the company’s stock, valued at $7,219,830. This represents a 5.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,136 shares of company stock worth $1,939,749 over the last ninety days. 11.00% of the stock is owned by insiders.

Cogent Communications Stock Up 1.3 %

NASDAQ:CCOI opened at $73.57 on Wednesday. Cogent Communications Holdings, Inc. has a one year low of $50.80 and a one year high of $86.76. The company has a debt-to-equity ratio of 5.87, a current ratio of 2.03 and a quick ratio of 2.03. The company has a market cap of $3.61 billion, a PE ratio of 94.32 and a beta of 0.40. The firm’s 50 day simple moving average is $77.05 and its 200 day simple moving average is $74.79.

Cogent Communications (NASDAQ:CCOI) last issued its quarterly earnings results on Thursday, November 7th. The technology company reported ($1.33) EPS for the quarter, topping analysts’ consensus estimates of ($1.34) by $0.01. The company had revenue of $257.20 million for the quarter, compared to analyst estimates of $258.69 million. Cogent Communications had a net margin of 3.73% and a negative return on equity of 36.31%. Cogent Communications’s revenue was down 6.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.13) earnings per share. On average, research analysts anticipate that Cogent Communications Holdings, Inc. will post -4.55 earnings per share for the current year.

Cogent Communications Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 22nd were given a $0.995 dividend. This represents a $3.98 dividend on an annualized basis and a dividend yield of 5.41%. The ex-dividend date was Friday, November 22nd. This is a positive change from Cogent Communications’s previous quarterly dividend of $0.99. Cogent Communications’s payout ratio is 510.26%.

Cogent Communications Company Profile

Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access, private network, and data center colocation space services in North America, Europe, Oceania, South America, and Africa. The company offers on-net Internet access and private network services to law firms, financial services firms, and advertising and marketing firms, as well as heath care providers, educational institutions and other professional services businesses, other Internet service providers, telephone companies, cable television companies, web hosting companies, media service providers, mobile phone operators, content delivery network companies, and commercial content and application service providers.